On the 26th February 2009 the Loan Market Association (LMA) published the following:

  • a new inter-creditor agreement and user guide. This is designed to help lenders agree inter-credit arrangements more efficiently. It is designed for use with the LMA levers facility agreement and has a similar transaction structure to that contemplated in the facility agreement.
  • new Guidelines for arranging banks which should be considered when arranging a syndicated loan. It also addresses relationships between arrangers, underwriters and other lenders and sets out a recommended method of managing the processes between parties in the syndication process. It also includes a syndication closing time line.